$37.2 mln in LeEco assets frozen

The mounting financial woes for Chinese online TV content provider LeEco are growing, with a court in Beijing ordering a new freeze on more of the company's assets.

The mounting financial woes for Chinese online TV content provider LeEco are growing, with a court in Beijing ordering a new freeze on more of the company's assets. [File Photo: IC]

Totaling to 250 million yuan (about 37.2 million US dollars), the assets are the personal holdings of LeEco's chair Jia Yueting and his brother, Jia Yuemin, along with the assets of certain subsidiaries of LeEco, which have been frozen at the request of China Construction Bank, reports thepaper.cn, citing two documents released by the Beijing No. 4 Intermediate People's Court on August 1, 2017.

This is the second asset freeze submitted by LeEco's bankers this year after LeEco became embroiled in its current "cash crunch."

Screenshot shows the two documents released by the Beijing No. 4 Intermediate People's Court on August 1, 2017. The court has ordered 250 million yuan (about $37.2 million US dollars) worth of LeEco assets frozen, including personal funds belonging to group chair Jia Yueting and his brother, Jia Yuemin. [Screenshot: thepaper.cn]

The group's 1.237 billion yuan (about 182 million US dollars) in assets, including the personal fortune of founder Jia Yueting and his wife, have been frozen at the request of the China Merchants Bank, according to documents released by the Shanghai High People's Court on June 26, 2017.